Fitness tech startup Fittr raises Rs 28Cr led by Zerodha's venture fund Rainmatter

Pune-based fitness tech startup Fittr has raised Rs 28 crore (approximately $3.5 million) in funding from Zerodha's venture fund, Rainmatter. 

The funding comes more than two years after it raised $11.5 million in 2021 from various investors, including Elysian Park and Peak XV’s seed fund Surge. Since its inception in 2016, Fittr's total equity funding has reached $17 million.

What does Fittr do?

Fittr, founded by Jitendra Chouksey, Sonal Singh, Jyoti Dabas, Rohit Chattopadhyay, and Bala Krishna Reddy, operates as a community-based health and online fitness marketplace.

The platform is known for its customized workout plans tailored to individual preferences and resources. It claims to have a user base of about 250,000 monthly active users and over five million app downloads.

In FY23, the platform reported a revenue of Rs 84 crore, albeit with a loss of Rs 41 crore. It recently reported profits on a quarter level and is on an annual recurring revenue run rate of Rs 120 crore.

Rainmatter's previous investments 

Rainmatter, backed by Zerodha, has been active in supporting startups, particularly in the health and wellness sector. With investments in approximately 18 startups, including Aroleap, Devils Circuit, Ultrahuman, Trunativ, and Humanedge, Rainmatter is building a robust ecosystem in this space. 

"We are happy to partner with and support FITTR in its mission to educate people about the importance of nutrition and health. Their mission aligns with our desire to do whatever we can to help Indians live well," the investment firm wrote in a blog post. 

Future plans

Fittr's primary focus for the coming years is to create effective employment opportunities for over a thousand fitness and nutrition coaches. The startup operates on a freemium model, offering a range of tools and personalized guidance.

Fittr's founder, Jitendra Chouksey, highlighted the potential for collaboration within Rainmatter's health and wellness ecosystem, which could further enhance Fittr's offerings. The startup has also hinted at the possibility of a public listing in the future, once it achieves sustainable profitability.

In the long term, Fittr aims to make 50 million people fit and create thousands of meaningful career opportunities in the fitness industry.

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